Conformance Technologies, APPS partner for risk management solution

Wednesday 10 June 2020 12:29 CET | News

US-based financial service provider Conformance Technologies has announced that Atlantic Pacific Processing Systems (APPS) will use its solution for real-time risk management.

APPS is a payments solutions provider and, by adopting the PreComm ToolKit solution, it will allow its merchant acquiring partners to gain access to a way to streamline merchant due diligence and risk assessment processes prior to payment processing onboarding, as well as to regularly monitor risk on an ongoing basis.

PreComm ToolKit is a cloud-based data collection and consolidation service that also addresses the difficulties associated with the Know Your Customer (KYC) compliance requirements of Anti-Money Laundering (AML) rules, The USA Patriot Act and card brand regulations. Merchant acquirers and payment processors are protected from deceitful entities before unwittingly granting payment system access, while saving time and money related to workflows, according to the official press release. 

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Keywords: Conformance Technologies, apps, PreComm Toolkit, KYC, AML, card brand regulations, Patriot Act, payment processor, onboarding, risk assessment
Categories: Fraud & Financial Crime
Countries: United States
This article is part of category

Fraud & Financial Crime

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